Micron Stock Is 25% Below Its June Record. Is It a Buy Now?
Micron Technology (NASDAQ:MU) hit its closing high of $1,213.56 on June 25, the day after the memory maker posted its fiscal third-quarter results. On Oct. 14, the stock ended at $914.13 — around 25% below that record and its lowest close since Aug. 24.
Still, the company has beaten the outlook management gave on June 24, and Micron now sees tighter memory supply through fiscal 2028.
I think the drop has more to do with where memory prices are heading than with anything going wrong at Micron. And at this price, the stock already reflects a lot of that risk.
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